Duties and Responsibilities
The Board of Directors is responsible for overseeing the general management of the affairs, funds, and records of the Credit Union. The Board of Directors, representative of the Credit Union’s membership and the community, is given the legal corporate authority and responsibility for the achievement of the Credit Union’s mission, and for its financial and operational stability in accordance with the California Credit Union Law, regulations of the California Department of Financial Institutions and in certain cases the National Credit Union Administration.
Each Director is expected to become an active participant in a body that functions effectively as a whole. In addition to assisting in the exercise of the major duties of the Board of Directors, individual directors are responsible for exercising due diligence in the performance of their duties. Among other things, directors’ duties and responsibilities include:
- Be informed of the legislation under which the Credit Union exists, its Bylaws, Mission Statement, code of conduct and policies;
- Keep generally informed about the activities of the Credit Union and the community, and general trends in the business in which it operates;
- Regularly attend Board meetings, serve on committees of the Board and contribute from personal, professional and life experience to the work of the Board;
- Exercise the same degree of loyalty, care, diligence and skill that a reasonably prudent person would show in comparable circumstances;
- Work with the President/CEO and staff of the Credit Union on committees or task forces of the Board; and
- Exercise vigilance for and promptly declare any potential, apparent or real conflict of interest in any issue before the Board and as appropriate abstain or withdraw from any vote or discussion of such issue.
Those eligible members who wish to be considered for future positions need to obtain and complete Official Application Documents from the President/CEO at the address provided below.
Candidates for the Board of Directors must meet the following criteria:
- Has a good credit standing, no criminal convictions, and is bondable at all times.
- Must be an active member of this Credit Union.
- Is willing to accept the responsibilities of an elected or appointed officer.
- Is at least 18 years of age and exhibits:
Will be able to act independently and objectively regardless of external relationships with other directors and employees.
Nominations by Petition
- Personal character and integrity;
- A demonstrated ability to communicate effectively and to think creatively;
- A willingness to serve the members and support the Credit Union’s values and culture;
- The ability to comprehend and learn business concepts and procedures;
- The capacity to provide strategic direction and sound organizational leadership; and
- The desire to be a team player and have a proven record of successful teamwork.
Candidates choosing to petition to run in future elections for the Board of Directors or Supervisory Committee must obtain and complete Official Application Documents including a Petition Form. To be eligible to run by petition, candidates must submit the following documents to the Credit Union at the address below: 1) Official Application Documents; and 2) Petition Form signed by eligible voting members. To be valid, the number of signatures on the Petition Form must be the greater of (i) one-twentieth (1/20) of 1% of the members entitled to vote or (ii) a minimum of one hundred (100) members.
For additional information on becoming a credit union volunteer, send us a message by clicking here
or send your request to:
Southland Credit Union
ATTN: President & CEO
10701 Los Alamitos Blvd.
Los Alamitos, CA 90720